Tax Preparation, Insurance, Payroll, Medicare and Business Advisement in Jamestown NY
FinCEN (Financial Crimes Enforcement Network) and the IRS (Internal Revenue Service) have initiated communication with financial institutions, highlighting a worrisome uptick in state and federal payroll tax evasion and workers' compensation issues … [Read more...] about Financial Institutions Alerted to Growing Concerns of Payroll Tax Evasion in the Construction Sector
Congress introduced the Employee Retention Credit (ERC) during the COVID era as a tax benefit aimed at supporting businesses that continued to pay their employees amidst pandemic-related disruptions. While the ERC proved beneficial for numerous … [Read more...] about Employee Retention Credit Scams
Thinking about hiring minors in New York State?In New York, the labor laws are designed to protect the well-being of our young workforce. Here are the working hour restrictions for minors: Ages 14-15: Ages 16-17: Remember, the … [Read more...] about Labor Laws for Minors in New York State
Tax-saving strategies Sole proprietors may be able to reduce their tax burden by hiring their children, spouse, or parents to work as bona fide employees. There are three ways to save tax dollars for the business owner. First, sole proprietors … [Read more...] about Hiring Family Members
Which is best for your business? All business owners hope to succeed at scoring good talent. Now, should that accomplishment come from hiring an employee, enlisting the services of an independent contractor, or both? An employee is a smart … [Read more...] about Employee vs. Independent Contractor
Many employers forget or are unaware there are employee forms and records they must keep on record to avoid unnecessary penalties. There are several forms employees need to complete for employers. An employer should have the following forms and … [Read more...] about Payroll Forms for Employers
